Becker's Healthcare November 12, 2024
High labor costs are keeping hospitals from financial growth and continue to challenge the bottom line, according to Kaufman Hall’s National Hospital Flash Report, based on data from 1,300 physicians.
Five things to know:
1. Labor expenses per calendar day were up 5% year over year in September. Year to date, labor expenses grew 5% per calendar day over last year.
2. The breakdown of labor expense per calendar day change year over year by region is:
- West: 7% increase
- Midwest: 4% increase
- South: 6% increase
- Northeast / Mid-Atlantic: 5% increase
- Great Plains: 4% increase
3. Medical groups are also experiencing high labor costs, with 84% of the group’s total expenses attributed to labor, according to Kaufman Hall’s...
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